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Australian Home Prices Fall 0.7% in July, RBA Holds

8/3/2026

26 6 Full Breakdown

Summary

Story summary

Australia’s home prices fell 0.7 % in July 2026, the largest monthly decline since December 2022.
Sydney prices dropped 1.4 % and Melbourne 1.2 %, pushing both markets more than 5 % below recent peaks.
Auction clearance rates rose to 53.6 % from 47.4 % in June while new listings fell as sellers waited.
The Reserve Bank of Australia is not expected to raise rates on 11 August.

History

Historical Context

After U.S. home prices jumped 124 % between 1998 and 2006 and fell more than 20 % in 2008—prompting the Fed’s rate cut and Lehman Brothers’ September bankruptcy—policymakers tightened mortgage rules. In July 2026, Sydney and Melbourne saw monthly price drops of 1.4 % and 1.2 % as the Reserve Bank of Australia kept rates unchanged on 11 August, echoing the 2008 crisis.

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Story summary

Australia’s home prices fell 0.7 % in July 2026, the largest monthly decline since December 2022.
Sydney prices dropped 1.4 % and Melbourne 1.2 %, pushing both markets more than 5 % below recent peaks.
Auction clearance rates rose to 53.6 % from 47.4 % in June while new listings fell as sellers waited.
The Reserve Bank of Australia is not expected to raise rates on 11 August.

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